1. Field of the Invention
The present invention relates to a method and system for conducting commerce over a wireless communication network. The present invention further relates to a system and method for using radio-based wireless devices such as cell phones and personal digital assistants to conduct business-to-business and business-to-consumer transactions over an electronic commerce system.
2. Description of Related Art
With the explosion of the Internet as a new indispensable worldwide medium, the web is becoming an integral part of our daily personal and working lives. Electronic commerce continues to see phenomenal growth, but so far most e-commerce developments have involved wired infrastructures.
In this new knowledge economy that puts increased demands on every individual's time, mobility will become an essential, relevant and important tool. While the Internet allows real-time communication and transactions, online accessibility has been restricted to PCs. With the advancement of wireless network technologies, electronic commerce through the Internet has extended itself to incorporate new business opportunities in the arena of mobile commerce (m-commerce).
In the field of m-commerce, there are significant restrictions on the efficiency and variety of m-commerce transactions that are available. Current technology is either limited to off-line payment or to restricted merchant specific on-line mobile payment through a mobile phone using a smart card, wherein the mobile phone must contain a dual slot smart card reader. Other m-commerce payment processes include dialing a premium rate number, e.g., 900-number, which has a call charge equivalent to the product price, dialing a prefix plus a premium rate number to indicate that the product should be charged to a different number for billing, and developing a pre-standing agreement for credit card payments, wherein a PIN has to be entered at the time of purchase to validate the user. These payment solutions offer no variety in payment methods and are limited to participating vendors, e.g., off-line vending machines. Further, m-commerce payment limitations affect mobile shopping, mobile retailing, and mobile ticketing. While electronic shopping, retailing, and ticketing have been available for some time, there are additional steps required to complete a mobile transaction. On-line mobile payments, shopping, retailing, ticketing, etc., require language recognition and or conversion in order to complete transactions with electronic merchants and payment authorization systems. Consequently, there is a need for a system and method of performing mobile commerce which facilitates interaction between mobile and electronic components which utilize differing protocols and languages.